Company: Camping World Holdings, Inc.
Class Period: March 8, 2017 — August 7, 2018
Court: U.S.D.C. – Northern District of Illinois
Deadline: December 18, 2018
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Camping World Holdings, Inc. (NYSE: CWH) (“Camping World” or the “Company”) on behalf of purchasers of the Company’s Class A common stock between March 8, 2017 and August 7, 2018, inclusive (the “Class Period”).
The shareholder class action complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors: (i) that the Company’s disclosure controls and controls over financial reporting suffered from a host of material weaknesses; (ii) that the Company’s historical financial results had been materially misstated; (iii) that the Company’s Gander Mountain Co. (“Gander”) stores had encountered integration setbacks, adversely impacting the Company’s earnings growth and profit margins; and (iv) that the Company’s core RV business was experiencing decelerating growth as the Company lagged industry trends and was losing market share to competitors. The complaint further alleges that, as a result of the foregoing, investors purchased Camping World’s Class A common stock at artificially inflated prices as high as $47.19 per share during the Class Period, and suffered significant investment losses as a result of defendants’ alleged misconduct.
On May 8, 2018, Camping World reported disappointing First Quarter Fiscal 2018 financial and operational results, and revealed adverse trends in its core RV business indicating that the Company had lost significant market share to its competitors. On this news, shares of the Company’s Class A common stock fell $4.60 per share, or nearly 17%, to close on May 8, 2018 at $23.02 per share.
Then, on August 7, 2018, Camping World reported disappointing Second Quarter Fiscal 2018 financial and operational results and revealed that problems in its Gander operations were more extensive than previously disclosed. On this news, shares of the Company’s Class A common stock fell an additional $3.17 per share, or over 14%, to close on August 8, 2018 at $19.04 per share.
IMPORTANT DEADLINE: Investors who purchased Camping World’s Class A common stock during the Class Period may, no later than December 18, 2018, seek to be appointed as a lead plaintiff representative of the class.
Camping World investors who suffered a financial loss in excess of $100,000 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740, or complete the information form on this page, for additional information about this action and their legal rights and recovery options.